Panasonic Announces Formation Of Panasonic Eco Solutions North America

LAGUNA NIGUEL, Calif., April 17, 2012 /PRNewswire/ -- FORTUNE BRAINSTORM GREEN CONFERENCE -- Today at the FORTUNE Brainstorm Green Conference, Panasonic announced the establishment of Panasonic Eco Solutions North America, a new business unit of Panasonic Corporation of North America that will focus on the design, implementation and financing of renewable energy and energy efficiency projects in the U.S. and Canada.  The new unit also made public a strategic alliance with Denver, CO-based Renewable Social Benefit Funds, L3C (RSB Funds) to provide development and financing capabilities to organizations interested in solar photovoltaic solutions. 

"Panasonic Corporation (NYSE: PC) is committed to becoming the leader in green innovation in the electronics industry by 2018, and the launch of this company will take us one step closer to achieving that goal," explained Jim Doyle, President, Panasonic Eco Solutions North America.  "With a focus on the long term, Panasonic recognizes that saving, generating and storing energy are fundamental needs that require practical solutions both now and moving forward.  Panasonic has a broad range of technologies from solar panels, to lighting controls, to high-capacity energy storage batteries to create solutions."

Panasonic Eco Solutions North America will provide comprehensive renewable energy and energy efficiency solutions to corporate and public sector organizations from the planning and engineering stages through implementation, construction and permanent financing, as well as ongoing system maintenance. 

Among Panasonic's accomplishments in the field is a major renewable energy installation at Infineon Raceway in Sonoma, CA, which uses more than 1600 Panasonic HIT solar panels and related technologies.  The high-efficiency solar panels cover 41-percent of the track's energy usage, making Infineon one of the world's most energy-efficient raceways. More recently, Panasonic completed a solar panel system installation at Safeco Field, the home of the Seattle Mariners.

Panasonic Eco Solutions North America has established an exclusive relationship through the end of 2012 with RSB Funds for the co-development of commercial-scale solar projects in North America.  The two will work together to provide financing, building and maintenance of commercial solar PV projects for the private sector as well as nonprofits, municipalities, hospitals, schools, low-income housing projects and other tax-exempt entities.

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